Corporate Video: How Much Should Your Budget Be, Anyway?

If your #budget has you on the fence for investing in a corporate video, let us make it really simple for you: make like Nike and just do it

…within reason, of course.

You’d be surprised at just how many Fortune 500 companies rightfully invest in #corporate #video #marketing and are able to make a profit. If your company is just starting out, it can be daunting when considering whether or not corporate video is the best marketing tool. Once that is confirmed, it can be just as difficult deciding on what to include for your first #company video. What is your #concept? Where would you shoot? Is it a #client #testimonial, #infomercial, or #tutorial? Is it live-action or #animation? What about both? And how much do these things cost? Well, coming up with a budget beforehand may save you from overspending and wasting time down the road.

Of course, #prices range with the different stages of #production. They also vary from one production company to the next. Here at #KeyWestVideo, we like to think our prices are more than affordable whether you’re a a start-up or Fortune 500. Our goal is not to drain our clients’ budgets, but offer the highest production value we can for exceptional corporate video.

Jimm Fox of One Market Media wrote a piece on the estimated costs of different production elements. We’ve highlighted some key aspects you might want to consider when settling on a budget for your #visual #venture:

Experts

Corporate Video: How Much Should Your Budget Be, Anyway?

 

First and foremost, having experts in your video is a must. Depending on the content of your video, it might be worth the investment to hire the best possible expert in your roster or hire a professional in your field.

Concept

Corporate Video: How Much Should Your Budget Be, Anyway?

 

Depending on the concept of your video, the costs may vary. If it’s an animation of high production value, this can cause anything from $3,000 to over $10,000 for a 3-5 minute video. If you’re looking to hire an experienced marketer, they may charge hourly fees for consulting services, too.

Equipment

Corporate Video: How Much Should Your Budget Be, Anyway?

 

Equipment is the most important element in production shooting. Different types of cameras and lenses offer different aesthetics. It all boils down to the ‘look’ you’re going for. A DV camera costs around $500. Most DSLRs range from $1,500- $2,500. A full feature HD camera can costs upwards of $10,000. A RED camera can cost anything from $15-25,000…you get the idea.

And this doesn’t include the extras, like lenses, field monitors, dollies, jibs, sandbags, lighting equipment, audio equipment and the list goes on.

It’s worth deciding just how you would like to shoot, what your shoot will look like, and where you’d like it to take place, which brings us to…

Location

Corporate Video: How Much Should Your Budget Be, Anyway?

 

Companies often think that public spaces, like parks and recreational areas, are free-for-all. This is almost always not the case. It might not be worth the risk to shoot guerrilla-style in a public area without first obtaining a permit.

There are budget costs when booking an actual studio. Companies would benefit from creating a solid production schedule that will determine how long studio rental is required.

Crew

Corporate Video: How Much Should Your Budget Be, Anyway?

 

Over the years, we’ve found that most corporate video production sets don’t require more than a few of our core team members. This way, there are no idle bodies on #set. It also makes for a smoother production. The smaller your crew, the less you will end up paying them. In fact, the core team should consist of a producer/director, videographer/camera operator and a sound person. Sometimes, for multiple angle shoots, more than one camera op may be necessary.

Editing

Corporate Video: How Much Should Your Budget Be, Anyway?

 

Last but not least, we have editing. In essence, this is where the magic is created. As #editors weave footage together to create one solid #story, we get an idea of what a project will look like once brought to life. Ideally, editors should cost the most. And depending on the different suites and programs they use, they can cost a pretty penny. This is not to mention additional costs for special visual effects and graphics. Animation with a high production value can cost hundreds of dollars per hour. On average, typical editing (linear and non-linear) ranges from $60-$150 per hour.

If you’re looking for remarkable video content at an affordable rate, Key West Video is the place for you.

Check out what some of our past clients have to say about us.